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Revived inventories boost nationwide retailer, though its used-vehicle business fell.
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AutoNation testing six- to 12-month terms in two key US markets.
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Analysts predict further declines while auto retailer CEOs predicted sustained gross profits higher than 2019.
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Declines in net income and revenue in the first quarter were offset by an 11% increase in parts-and-service business.
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People keeping vehicles longer and driving more miles is increasing parts and service needs.
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RepairSmith acquisition boosts its offerings and opens up new customer opportunities.
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Retailer invests in vehicles sales lister despite former bad blood.
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Meanwhile, AutoNation, Hendrick Automotive Group top public, private rankings.
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Most categories of dealership service and parts businesses have recovered from COVID-19 shutdowns, especially customer-pay work.
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AutoNation predicts demand for new vehicles will continue into next year, as low-interest rates and robust demand helped the retailer boost quarterly earnings estimates.
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